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Sample Business Plan
June 20XX
Publishing for Authors
Book Publishing Made Easy for First Time Authors
Pat Smith, Professional Virtual Author’s Assistant
531 Main Street, Suite 1161
El Segundo, CA 90245
888-337-0636
Table of Contents
Overview and Vision…3
Management Team/Owner Background…3
Services Offered…4
Marketing and Sales…5
Industry Analysis…5
Target Audience Description…5
Differentiation from Competition…6
Marketing Activities Planned…6
Financials…7
Revenue Expectations…7
Start Up Costs…8
Expected Ongoing Monthly Costs…8
Income Statement for Year One…9
Overview and Vision
On September 1, 20XX, I intend to open Publishing for Authors, a virtual author’s assistant services business that will cater to people who are new to writing and publishing books.
My goals are to be a sole proprietor and make an income of $45,000 annually, and break even after my first three months in business.
Management Team/Owner Background
I worked as an administrative assistant for a local business executive for five years before I had my first child. Now that both children are in school, I want to make use of my background and expertise and start my own business. I’ve also been PTA president of my local elementary school and have organized several food drives at my Church.
I have completed the Virtual Author’s Assistant Training Program certification I can also demonstrate my various administrative skills with my transcripts for having successfully passed exams in Microsoft Word and Excel, in eCommerce and in PR.
My strengths:
Proactive, resourceful and take initiative
Very organized
Respond quickly
Calm and even-tempered, take stress well
Quick learner
Time management and organization
My skills:
Excellent written and verbal communications
Marketing planning and execution
Web site maintenance
Database management
The following people will be part of my team as I develop my business:
Joe Jamison, Attorney
432 Main St.
El Segundo, CA 90245
Jill Kramer, Accountant
167 Main St.
El Segundo, CA 90245
Services Offered
Virtual assistants own their own independent businesses and choose their own clients, hours and income potential. They often develop specialties in various areas of expertise and sell professional services to their clients on a contractual basis.
Virtual assistants primarily use the telephone and Internet to provide administrative types of assistance to clients who are not local, many of whom they have never met in person. Typical types of work include using the telephone to do research, book appointments, and customer service. Other work includes using email to send finished word processing and spreadsheet assignments.
The services offered by Publishing for Authors will focus on self-publishing, but I will offer services related to book marketing as well.
The core services offered to authors are to:
- Coordinating the self-publishing process for the author
- Selecting and coordinating a team including the editor, cover designer, web designer and others
- Getting the ISBN, the library cataloging information, making sure the copyright is registered
- Selecting and coordinating with the right printer for the author’s book
- Proofreading the final copy before the initial print quantity
- Supervising the coordination of an author’s web site and media kit
- Sending out copies for testimonials and early reviews in industry and consumer sources
- Getting the book listed on Amazon and making the most of the author’s Amazon page with a blog, reviews and more
- Creating a virtual book launch and book tour
- Launching an Amazon bestseller campaign
By year two of the business I plan to add two products: An eBook on time management for authors and a teleclass, both to sell independently and to use as a marketing tool.
Marketing and Sales
Industry Analysis
The virtual assistant industry is a thriving one. There are approximately 7,000 virtual assistants in the US, 3,000 in Canada 2,000 in the UK and 2,000 in Australia, with estimates of 20,000 worldwide. Since more and more of the 20 million US small businesses are outsourcing, there is plenty of opportunity in this growing business segment.
The virtual assistant concept was developed in about 1995, following the mainstream use of the Internet. The combination of telephone, email and file sharing allows for many types of work to be done virtually.
The reason that many individuals and organizations hire virtual assistants is two-fold:
- Flexibility of just getting the expertise and execution of work when it is needed without having to hire a full-time person to be ready.
2. Cost reduction of not having to provide a physical office space, benefits, or pay workers comp or pay overtime.
According to a survey done by the Virtual Assistance Networking Association ( 43.4% of virtual assistants have a specialty they have developed so that they can target a niche market, such as authors.
Target Audience Description
My target audience is nonfiction authors who are subject matter experts in their own professions and businesses and who have the goal of getting a book published and the estimated $10,000 budget to do it (source The Publishing Store (
Every year about 300,000 new trade books are published (books that are directed to consumers and sold through bookstores, to libraries, in gift stores, online and in back-of-the-room sales and sales to large organizations). At least 60% of these are self-published.
The typical client for my business is a working professional coach, therapist, attorney, accountant, or speaker.
Many of these people have heard about virtual assistants, but may not be aware that some of us specialize in working exclusively with authors. As first time authors, they need someone who knows what to do, when to do it and who to connect with.
Articles and stories about virtual assistance in the mainstream press:
Differentiation from Competition
While it is possible to hire less expensive virtual assistance in some parts of the world – offshore VAs - the key to success in competing is to create a specialty with a distinct market niche.
I have completed an extensive training program for Virtual Author’s Assistants in order to be able to service the market niche of authors.
Marketing Activities Planned
According to a survey done by the Virtual Assistance Networking Association ( 93.7% of virtual assistants find business primarily through personal and online referrals. About 50% of VA’s actively partner with other VAs as a referral source. While I estimate that 50% or more of my clients will come from referrals, both from my personal network and from the Virtual Author’s Assistant online directory as my primary sources, I have a number of other ongoing marketing activities planned as well.
- I have developed a web site
- I am listed on the professional virtual author’s assistant directory at
- I will send personal emails to my own database of friends and business associates to let them know about my new skills and training
- I will offer free 15 minute consults for qualified prospects
- I estimate about 25% of my business will be from local people, so I will network at two local networking meetings, as well as Chamber of Commerce events
- I will distribute a monthly eNewsletter with valuable information for authors
- I will submit articles of interest to authors to article databanks
- I will join two VA Networking organizations for contacts and to stay current
- I will stay active in the social networking community and join writer’s forums as another source of clients
Financials
Revenue Expectations
I intend to charge $40 an hour and work 25 billable hours a week for an income of approximately $4,000 a month at full capacity.
According to a survey done by the Virtual Assistance Networking Association ( more than half of virtual assistants in the US charge rates of between $31 and $40 an hour. Most virtual assistants have between one and four clients at a time, and the vast majority have no more than seven at a time.
According to the Virtual Author’s Assistant Training Program ( about one-third take the training program because they already have an author client who wants more support, another one-third attracts their first author client within 30 days of taking the training and the majority of the final third finds their first author client within 60 days of completing the training program.
Assuming I find my first author client in 30 days, my second author client in 60 days, and my third and fourth author clients within 90 days, I plan to be at my intended income by my fourth month in business.
Start Up Costs
Business Set Up
Domain Name - $20
Business License - $35
Fictitious Name Statement (DBA) - $75
Professional Services (attorney, accountant) - $200
Virtual Author’s Assistant Training Program - $500
Dues/Memberships - $40
Equipment
Computer
Hardware - $700
Back up hard drive - $50
Software (anti-virus, Microsoft Office)
All-in-one (printer, copier, fax, scanner) - $150
Telephone - $50
Headset - $30
Office Furniture
Desk, chair, filing cabinet - $200
Office Supplies - $50
Marketing Materials
Web Site development - $150
Business cards - $50
Flyer/postcard - $200
TOTAL START UP COSTS: $2,500
Expected Ongoing Monthly Costs Include
High speed Internet - $30
Phone (long distance pricing package, voice mail) - $40
Web hosting/Email marketing - $40
Annual domain name renewal - $15
Mailing and postage - $10
Office supplies – computer paper, ink, folders, pens - $20
Insurance - $20
Gifts, cards, meals for clients - $20
TOTAL EXPECTED MONTHLY EXPENSES: $195
An income statement projection for the first three years follows.